How We Are Invested

Onex has invested its capital in private equity, real estate and credit securities while maintaining a prudent amount of cash to fund future investment opportunities.

	Proprietary Capital
As at September 30, 2011	($ in millions)
Private Equity
Onex Partners
Private Companies	$	1,8501
Public Companies	1752
Unrealized Carried Interest on Onex Partners Investments	893
ONCAP	2944
Direct Investments
Private Companies	2025
Public Companies	1292
	$     2,739
Alternative Assets
Onex Real Estate Partners	1786
Onex Credit Partners	967
	274
Other Investments	88
Cash and Near-Cash	1,3018
Onex Corporation Debt	Nil
	$	4,402

(1)	Based on the US$ fair value of the investments in Onex Partners' financial statements.  Includes approximately $298 million invested by Onex to acquire JELD-WEN in early October 2011.
(2)	Based on the September 30, 2011 market values.
(3)	Represents Onex’ share of the unrealized carried interest on public and private companies in the Onex Partners Funds.
(4)	Based on the C$ fair value of the investments in ONCAP’s financial statements and US$/C$ exchange rate of 1.0482.
(5)	Based on value of last third-party investment.
(6)	Based on carrying value of Onex Real Estate Partners’ investments at September 30, 2011.
(7)	Based on the September 30, 2011 market values. Excludes approximately $307 million investment in Onex Credit Partners’ unleveraged senior secured loan strategy fund, which is included with cash and near-cash items.
(8)	Includes approximately $307 million invested in Onex Credit Partners’ unleveraged senior secured loan strategy fund and excludes approximately $298 million invested by Onex to acquire JELD-WEN in early October 2011, which is included with Private Companies.

Onex Corporation has no material debt. Its policy is to preserve a financially strong parent company that has funds available for new acquisitions and to support the growth of its businesses.